TAX POLITIX
The Politics of Taxes
Must Read: Thomas Sowell on “Is Thinking Now Obsolete?”
Thomas Sowell is one of the greatest minds of today. His latest essay entitled "Is Thinking Now Obsolete?" is exemplary: I have reposted it in its entirety below: "Some have said that we are living in a post-industrial era, while others have said that we are living in a post-racial era. But growing evidence suggests that we are living in a post-thinking era. Many people in Europe and the Western Hemisphere are staging angry protests against Israel’s military action in Gaza. One of the talking...
Inversions Are The Only Way Some Businesses Can Compete Against Discriminatory Tax Policy
When the resident or his advisers talk about inversions these days, they are truly talking about intentional and virulent discrimination of our American companies compared to foreign companies. In the present environment, U.S. companies are at a severe financial disadvantage compared to foreign companies. Inversions have nothing to do with taxes that the US or foreign companies pay on income they earn within the United States. It all has to do with foreign-earned income, which the United...
A Primer on Suing the President
The Washington Post reports that a vote to sue President Obama for overreach of powers passed in the House. No Democrats supported the measure as well as 5 Republicans who also voted no. Here's where the mess begins. Most Americans are unaware of how the government actually works. Here's all the nuances pertaining to Congressional and Executive power. The Legislative branch, Congress, has the power to pass laws. The Constitution does not grant specific permission for the Executive branch to...
The Chief Architect of Obamacare Argued that the Law WAS Limited to State Exchanges
Reason does a good job (un)covering some clips from 2012, which feature the Chief Architect for Obamacare, Jonathan Gruber. They come at an awkward time just as a Circuit Court judge panel ruled that Obamacare was limited to only providing subsidies in state exchanges, not federal, per the text of the law. The government unsuccessfully argued that everyone meant both federal and state exchanges, and the text was akin to a typo. Back to the clips and the article. Apparently, in 2012, Jonathan...
Obama’s “Inversion” Crusade is Really Just Another Attack on Businesses
Obama has called "for an end to a corporate loophole that allows companies to avoid federal taxes by shifting their tax domiciles overseas in deals known as 'inversions'." Such as statement shows the utter ineptitude that Obama has for understanding a) what inversion actually is and b) how his policies are the cause. Inversion is not a "corporate loophole" and companies who do so are not "avoiding federal taxes". Currently, only the United States taxes American companies on foreign profits as...
The Immigration Surge Has Nothing to Do With Immigration
One month ago (in June), the topic of immigration was at 5%. Today? It's 17%. According to a Gallup poll released a few days ago, immigration has surged to the top of the list as "the Most Important U.S. Problem". This replaces "dissatisfaction with government" (16%). Two other tidbits to glean from this poll: (1) the issue is higher among Republicans (23%) than Democrats (11%); and (2) older Americans (over 50) are more likely than younger Americans (under 50) to cite immigration as the top...
Federal Appeals Court Rules Most Obamacare Subsidies Illegal — What Next?
A federal appeals panel handed down a ruling this morning that could be problematic for Obamacare. As just reported, “A judicial panel in a 2-1 ruling said such subsidies can be granted only to those people who bought insurance in an Obamacare exchange run by an individual state or the District of Columbia — not on the federally run exchange HealthCare.gov.” You can read the entire appeal here. This is the eagerly awaited Halbig case. The crux of the case lies in the wording of the actual bill...
But Wait, There’s More! Another Round of IRS Computer Crashes Reported
First Lois Lerner's home computer crashed. Then it was seven IRS employees, many who had important positions. You can read about them here. Now, according to the Daily Caller, the IRS Deputy Associate Chief Counsel Thomas Kane reported in congressional testimony that even more IRS officials succumbed to computer crashes. He estimated that the number was no more than 20. Kane also stated that the IRS does not know yet if those lost emails are backed up anywhere. Last month in June, the IRS...
Krauthammer’s Clarity
Charles Krauthammer's Op-Ed in the Washington Post this past week was a succinct and cogent piece of writing on the Gaza-Israeli conflict. Where many news organizations have been wont to blame Israel, Krauthammer calls it like it is. This piece was so excellent, it is worth it to reprint in its entirety below. MORAL CLARITY IN GAZA Israel accepts an Egyptian-proposed Gaza cease-fire; Hamas keeps firing. Hamas deliberately aims rockets at civilians; Israel painstakingly tries to avoid them,...
Quickly Noted: IRS Lawsuit By Tea Party Groups Gets Green Light
A federal judge authorized two of three tea party complaints against the IRS to move ahead, despite a plea for dismissal from the accusations of discrimination. "In her ruling Thursday, Judge Susan Dlott allowed two of the tea party groups' claims — including that the IRS discriminated and retaliated against them based on their views in violation of their free speech rights — to survive to trial" This will be interesting to watch, and marks several cases now pending against the IRS in...
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